Economic Outlook 2013-14: Current Account Deficit
0Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister released the document 'Economic Outlook 2013-14' at a Press Conference in New Delhi.
As per the document, Current Account Deficit projected at $70 billion (3.8% of GDP) in 2013-14 against an estimated $88.2 billion (4.8% of GDP) in 2012-13.
Merchandise trade deficit projected at $185 billion (10.1% of GDP) in 2013-14 against an estimated $195.7 billion (10.6% of the GDP) in 2012-13
Net invisibles earnings projected at $115 billion (6.3 % of GDP) in 2013-14 against an estimated $107.5 billion (5.8 % of GDP) in 2012-13.
Between 2010-11 and 2012-13, the combined impact of higher net oil and net gold imports on the CAD was almost $57 billion or 3.0 percentage points of GDP. This was equivalent to 87 per cent of the aggregate deterioration in the merchandise trade balance of $65 billion during the period.
The CAD may go even below $ 70 billion in 2013-14 if the recent trends in exports and imports are maintained through the year.
To see the highlights of the Economic Outlook 2013-14, kindly visit the following page of the official blog of the Ministry of Information & Broadcasting:
http://inbministry.blogspot.in/2013/09/highlights-economic-outlook-2013-14.html